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The Pros and Cons of Cutting Cable

By U.S. News & World Report

Fall is quickly approaching, which means many favorite TV shows are soon to return, not to mention baseball playoffs and the start of football.

With that in mind, have you taken a close look at your cable bill lately? Unless you moved recently, chances are you haven’t changed your subscription. And if you have the same service as a few years ago, your cable costs have likely increased. Before the fall season begins, now is a good time to evaluate whether your shows are worth the expense.

Consider how much you spend each month versus how much of your cable subscription you use. Are you watching all the channels you pay for or just flipping between the same 20 options?

If you’re happy paying the bill every month for what you watch, and aren’t willing to give up access to all cable has to offer, then canceling might not be the best option for you. Before you decide, consider a few pros and cons of cutting the cord:

Pros

When you cancel your cable subscription, the first obvious benefit is saving money. And the savings don’t mean you have to sacrifice your favorite shows.

There are tons of streaming services and devices on the market that make it easier to cut ties with cable, especially when devices connect to the Internet and provide instant access to your must-see shows. With so many options, you may want to use an app like Yidio which can help you find a show or movie and see whether it’s available on Netflix, Hulu, Amazon Prime, iTunes (all cheaper options than or cable) or through free online streaming.

For some people, there is another unexpected benefit of canceling cable. Instead of flipping on the television and watching whatever is on (sometimes for longer than intended), watching TV becomes a more intentional act. If you’re looking to spend less time in front of a screen, this is a plus.

Cons

There are a few cons to cutting your ties with cable, depending on your viewing preferences. One major change is losing access to live coverage of news and sports.

This can easily be remedied with the Internet’s myriad sources of news and live streaming of major events. However, watching sports coverage sometimes requires a workaround when you don’t have cable. With the exception of national games aired on major networks (which stream online for free), you won’t have access to the live sports coverage on ESPN and other cable channels.

Another consideration: If you follow local sports teams, you’ll likely be part of blackout restrictions and won’t be able to stream those games online.

One more con for dedicated viewers is the delay of watching current television series. If you’re waiting for a season to be uploaded to Netflix, it can be difficult to avoid spoilers for those months in between. For hard core fans, even waiting to watch a new episode a few days later can be a challenge.

Lastly, there is some content that is still “cable-locked” — HBO used to be one such network with limited access, but recently unveiled a new HBO Now service for people who don’t have a cable subscription. Other channels like Showtime and AMC have not yet relinquished their newer episodes to streaming.

Making the Decision

With all the options available, you might find a new setup confusing and not worth the effort. On the other hand, if you can find a setup that works for you, it can be a new and improved level of convenience — a TV watching experience that is catered to your personal preferences.

For those afraid of cutting the cord entirely, try “cord shaving,” and just cut back on your cable subscription for a cheaper bill that still allows access to some channels. It’s all about finding what works for your household and your budget.

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The Pros and Cons of Cutting Cable originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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